Question

Explain 3 ways how Information and Communication Technology can lead to economic and business growth.

Answer 1

Three ways information and communication technology can lead to economic and business growth are:

1. It helps in transfer of information and latest technology from one country or economy to another and help all to benefit for the new technology developed in one place

2. Businesses can get information on what the customer requirements are in a foreign country and alter their production likewise to maximize consumer satisfaction.

3. Economies can communicate with one another on their requirements and make sure they are all on the same lines and copy the success stories of well established business houses in their home country.

The above mentioned are some of the ways information and communication technology helps in economic and business growth.